Credit Check, Debt Review, Debt Rescue, Debt counsellor,
Debt solutions, Credit bureau, Loan consolidation, Blacklisted….
we can answer any questions you have.
Frequently Asked questions
Need help with debt? Credit Matters can help you
What are the implications if I decide to go under Debt Counselling?
We will conduct an assessment of your state of indebtedness. If you are over-indebted (expenses exceed income), we accept your application for debt review. If you are not over-indebted, your application will be rejected. On acceptance, we will inform all credit bureaux, debt collectors and credit providers that you are under debt review. Credit providers are requested to verify your account information (outstanding balance, instalment amount, interest rate, etc).
Credit providers and debt collectors will no longer be able to pursue legal action against you for the duration of the debt review process provided you maintain regular payments to credit providers in terms of the new proposals. Once we have completed the debt review and are eligible for debt counselling, we will draft repayment proposals for you. These proposals will be based upon your own individual circumstances and what you can afford to pay.
What are the implications if I decide to go under Debt Counselling?
We will conduct an assessment of your state of indebtedness. If you are over-indebted (expenses exceed income), we accept your application for debt review. If you are not over-indebted, your application will be rejected. On acceptance, we will inform all credit bureaux, debt collectors and credit providers that you are under debt review. Credit providers are requested to verify your account information (outstanding balance, instalment amount, interest rate, etc).
Credit providers and debt collectors will no longer be able to pursue legal action against you for the duration of the debt review process provided you maintain regular payments to credit providers in terms of the new proposals. Once we have completed the debt review and are eligible for debt counselling, we will draft repayment proposals for you. These proposals will be based upon your own individual circumstances and what you can afford to pay.
What happens to my accounts / credit cards?
All your accounts will be frozen by your creditors and debt collectors . This includes credit cards, overdraft facilities, revolving credit facilities and store accounts. You are required to continue paying your accounts (as much as you can) whilst under debt review.
Is this the same as being put under administration?
No. Administration only applies to people whose total debt does not exceed R50, 000 and normally lasts much longer and is much more costly. We aim to achieve a debt-free status within five to eight years.
Are there any accounts that do not get included?
Only credit agreements as defined in the National Credit Act may be included in the debt review process. Accounts such as doctor and cell phone accounts are excluded. Also excluded are accounts in respect of which legal action has been initiated (prior to your application for debt review) or where judgment and/or garnishee order(s) have been instituted.
“I was skeptical at first, but Credit Matters proved to be a lifeline when I was drowning in debt. Their team of experts negotiated with my creditors and helped me consolidate my debts into manageable payments. The relief I felt was incredible. Thanks to Credit Matters, I’m on the path to a debt-free future, and I couldn’t be happier!”
“Credit Matters is the real deal! I was buried under a mountain of debt, and it was affecting every aspect of my life. Their personalized approach and commitment to helping me get out of debt made all the difference. Today, I’m proud to say I’m debt-free, and it’s all thanks to Credit Matters. Don’t hesitate to reach out to them – they’ll change your financial future!
“Salaam Sumaya from Credit Matters truly turned my financial life around. When I was drowning in debt and felt like there was no way out, their team stepped in with actionable advice and a clear plan. Their dedication and expertise were evident throughout the process. Today, I’m debt-free and have a much-improved credit score, all thanks to Credit Matters. I highly recommend their services to anyone facing a similar situation.”